Basic Salary Below Threshold + Extra Commission Earned

  Written by Marc   Posted 30 October 2013

I earn a basic salary that falls under the threshold (R5000 pm) but then earn commission which bumps it up over the threshold. Now this commission can vary, from R500 to well over R1000. How do you calculate this per month, as each month will fall into a different bracket (referring to the SARS monthly tax deduction tables). Do we simply look at the total amount and deduct the applicable tax applicable in that bracket each month?

Tax directive not issued to SARS for retrenchment?

  Written by Marc   Posted 30 October 2013

My company forgot to do my tax directive when they retrenched me in Sept 2012. Paid me in full the amount. Can I get the company to issue me with a tax directive now?

How to start a small family business legally?

  Written by Marc   Posted 29 October 2013

I would like to start a small company/business, mainly selling parts for home/small office computers in South Africa. I will also sell my service of assisting to fix PC's. How to I go about registering, and what would I register the business as? Are there fees involved and or TAX/VAT registration needed?

Do sole proprietors charge VAT if their turnover is less than a R1 million per annum?

  Written by Marc   Posted 29 October 2013

Do I charge VAT as a Sole Proprietor earning less than R1 million turnover per annum? If so, do I need to be VAT registered?

Can I claim deductions for a living allowance given to my elderly mom?

  Written by Marc   Posted 28 October 2013

I pay my elderly mom R2 000 per month for living expenses. She does not qualify for a South African pension as although my dad was classed as a South African citizen, my mom's citizenship remains British. She received a small amount of money when my dad died which she invested and now earns R1 000 per month so her total income for living is now R3000. My question is, I would like to know if there is some sort of deduction I can make for this amount?

Meals fringe benefit for tax purposes?

  Written by Marc   Posted 21 October 2013

I have to travel to clients a lot for work, the company has agreed to pay for my lunch when I am on the road during business hours, will this be a fringe benefit for me?

I earn a salary and pay tax as per usual, if I consult and receive other income, what is the tax tha

  Written by Marc   Posted 14 October 2013

I receive a salary per month and pay my usual taxes. I am assisting a friend on a monthly basis with his business in my spare capacity. He pays me per month R4 700.00 consultation fees and would like to be invoiced for that. I am not registered as a business, what are the tax implications for me.

Signing bonus vs relocation allowance tax implications?

  Written by Marc   Posted 12 October 2013

I just got a job offer in CPT and currently in DBN and the company is giving me a signing bonus R100K. what are the tax implications of signing bonus compare to getting a relocation allowance instead of the bonus.

What goes under capital allowances on the ITR12 - Income Tax Return

  Written by Marc   Posted 8 October 2013

What goes under capital allowances?

Can I claim travel expenses for unpaid charity work?

  Written by Marc   Posted 8 October 2013

I work for a software company three days a week and on the other two days I provide unpaid help to various charities. Am I able to deduct the travelling expenses to and from the charity projects in my tax return?

What documentation is required to show income and expenditures from rental income?

  Written by Marc   Posted 8 October 2013

I recieve additional income from rental. I have an agreement with my tenants that they pay a percentage of the electricity and rates bill, the ADSL bill and the domestic staff. If I were to be audited, what documentation would I need to provide in order to prove these expenditures seeing as they are not the total amount invoiced on the ADSL or Electricity Bills?

What is an IRP3?

  Written by Marc   Posted 7 October 2013

What is an IRP3

How do I work out my taxable income from my salary slip?

  Written by Marc   Posted 1 October 2013

I started earning extra wages outside of my salary in February 2013 and so I have registered for provisional tax. On my IRP6 I need to fill in my gross turnover(which I understand to be my gross salary other income including my rental earnings, wages earned and interest on investments) and then my estimated taxable income (which I understand to be my gross turnover minus my costs, retirement annuity contributions and my pension contributions). How do I work out the taxable portion of my salary ...

Read more →

Commission earners and staying up to date on what you can claim and what portions

  Written by Marc   Posted 26 September 2013

Hey TimI am back and this year I have subscribed to your service so I'm looking forward to easy filing!I do have a couple of questions, keeping it high level, as I earn the majority of my income on commission and spend quite a lot of my own income in making that possible. I'll just dive right in:A.) Can I claim depreciation on my 1.) Car and 2.) Scooter - how do I calculate that and where do I put that on my return if I can?B.) Can I claim insurance expenses on 1.) My Home Office and 2...

Read more →

What to include under 3601 and 3615 codes

  Written by Marc   Posted 26 September 2013

Do subsistence allowances, bonuses and right of use of motor vehicle fringe benefits get INCLUDED under code 3615 and 3601? Or must they be EXCLUDED from 3615 and 3601 and included under 3714, 3605 and 3802 respectively?

When do I start my logbook if got travel allowance halfway through year?

  Written by Marc   Posted 25 September 2013

Hi Tim, I get a travel allowance but however I started receiving it in June, but always had used the car since the month of April! So when do I start the date of my logbook for efiling?

Car Allowance - Available deductions and Documents required

  Written by Marc   Posted 21 September 2013

My salary was structured in such a way that I have a car allowance of approx R5,5k and my contract states that due to this allowance I will be required to use my personal vehicle for company purposes. The company however includes the full allowance as 100% taxable income - and that my annual tax return will determine the actual taxable portion.

My question is - how will it be determined and what documents do I need to keep in order to have any available deductions? Please note that...

Read more →

Does "Gross salary" for PAYE include subsistence allowances, car allowances etc?

  Written by Marc   Posted 21 September 2013

What components make up "Gross salary"? Would things like subsistence allowances (local) and car allowances be included?

Tax on money from PayPal?

  Written by Marc   Posted 20 September 2013

Hi Tim
I'm a Freelance Artist, by profession, I mainly get paid through PayPal as most of my client/commissioners are overseas. I bring in on an average month between R8000-R9000. FNB charges a small fee and VAT get's charged on the money I get.
I wondering about how I pay the tax on this money and how much I am expected to pay.
Thanks

How to claim travel expenses without a logbook

  Written by Marc   Posted 18 September 2013

Is there another way of claiming for travel expenses if you don't have a log book?

I have to claim travel, but didn't keep a logbook. Can I make one now or too late?

  Written by Marc   Posted 17 September 2013

Hi TaxTim! I have to claim travel, but didn't keep a logbook. Can I make one now or too late?

Employer tax free bursaries for student employee

  Written by Marc   Posted 13 September 2013

Hi,I am currently busy with my masters degree in management. I am personally paying for all my studies.Can I arrange with my employer to set a certain portion of my salary aside as a bursary which is directly paid to the University thus lowering tax for my employer and myself?Also, is it possible for my employer to claim money from the the Skills Development Levy (SDL)?Basically, I want to know what can I arrange with my employer to reduce our tax burden. My employer will be open to any options ...

Read more →

Do I need a logbook for aTravel allowance?

  Written by Marc   Posted 11 September 2013

If receiving a fixed travel allowance is it necessary to maintain a logbook?

Can a company register for VAT at inception or must it commence trade first?

  Written by Marc   Posted 10 September 2013

I would like to know at what point should a business register for VAT. Can it register immediately or must the company first make R50 000 and produce bank statement to prove this?

Private practice queries

  Written by Marc   Posted 10 September 2013

I've started my own private practice
I was employed before that and was a registered "normal" tax payer and did my e-filing chop chop easy. I'd like to continue doing my own e-filing:

Do I have to register now as a different tax payer now that I'm working for myself?
And must I complete the form where it asks for my own income and will it automatically update then and ask if I had other expenses?

And what all can I keep as "business" expenses? (I rent an office and pay a receptionist as well)...

Read more →
Older posts →← Newer posts    25  26  27  28  29  30  31  32  33  34  35  36  37  38  39  40  41  42  43